Property News · December 20, 2016

Here’s why Evergrande’s pursuit of Vanke failed: politics


The control of China Vanke, the country’s largest property developer, has always been a political matter, not economic or business. So it was too, with the spectacular failure of China Evergrande and Baoneng Group in their pursuit of Vanke.
Over the last two weeks, mainland regulators have not only named and shamed Evergrande and Baoneng, but also sent in investigators to study their insurance units. All these have forced their sale of insurance products – a major source of funding…

Source : South China Morning Post
Read more…Here’s why Evergrande’s pursuit of Vanke failed: politics

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